Hi shankar,
This is an "application not identified" error. The Attach action is not able to identify the application based on parameters given in the Navigate stage.
At first check without giving any parameters as most of the times it works, but is dependent on how you have set the options in the application wizard.
Then if you are going to have only one Internet Explorer window then you can give the Process Name as "iexplore". Process Name is the one that shows up in the Task Manager list of processes without the word 'exe'.
If the above does not work then give an appropriate Window Title. Also try with wild cards too like "Touramical*" but ultimately you will need to find out a way to recognize the application to attach to it.